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(Reuters) - Morgan Stanley CEO Ted Pick's compensation was set at $34 million for 2024, his first year in the top job, a filing showed on Thursday.
Leaders of Wall Street rivals, including David Solomon at Goldman Sachs and Jamie Dimon of JPMorgan Chase, also got pay bumps after their company profits rose, buoyed by a resurgence in investment banking.
Pick, a three-decade Morgan Stanley veteran, was paid $25 million as co-president of the investment bank in 2023, including a salary of $1 million.
His payout was awarded for "outstanding performance, including the successful completion of the leadership transition and the firm’s exceptional financial performance," the bank's board said in a filing, citing record revenue, higher earnings and a market capitalization that surpassed $200 billion.
Morgan Stanley's former chief, James Gorman, received compensation of $37 million in 2023, making him the highest-paid Wall Street bank CEO for his last year at the helm.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Mohammed Safi Shamsi, Lananh Nguyen and Lisa Shumaker)
